IHG Buys Six Senses for $300m
The acquisition takes IHG's luxury portfolio to 300 properties
February 13, 2019
Intercontinental Hotels Group (IHG) has announced its acquisition of Thailand-based Six Senses Hotels, Resorts and Spas. Purchasing the brands and operating companies from Pegasus Capital Advisors cost IHG $300 million, Reuters reports. The deal did not include real estate.
Six Senses has 17 hotels across Bhutan, Cambodia, China, Fiji, France, Indonesia, the Maldives, Oman, Portugal, the Seychelles, Singapore, Thailand, Turkey and Vietnam. The upmarket group also has two Evason resorts, as well as spas in Europe, Asia and the Middle East.
In a statement, IHG said it expected Six Senses to expand to 60 properties within the next ten years, including a restored 14th-century fort in Rajasthan, villas on a private island in Cambodia, and the brand’s first North America hotel near the High Line in Manhattan’s West Chelsea.
It confirmed guests will be able to book Six Senses stays on ihg.com and use the IHG Rewards Club loyalty program.
IHG has previously said it is targeting a “fast-growing luxury segment worth $60bn.” It recently acquired Regent Hotels and Resorts and launched upscale brand Voco. In 2014 it bought Kimpton Hotels and Restaurants for $430 million. It has planned a Regent opening for a developing Kuala Lumpur financial district, and is growing the Kimpton brand in Europe.
IHG said the Six Senses acquisition took its number of luxury hotels to 300 properties, with another 100 in the pipeline. In total it has 15 brands and more than 5,500 hotels.
Keith Barr, IHG’s chief executive officer, commented: “IHG’s growing portfolio of luxury brands is a collection of the very best in the travel industry. Each one offers something unique to our guests, and together they offer an unparalleled choice of locations and experiences.
“We’re incredibly proud to welcome Six Senses into our family of brands and look forward to opening more stunning hotels, resorts and spas – each one staying true to Six Senses’ world-renowned reputation for wellness and an unwavering commitment to purposeful travel.”
Neil Jacobs, Six Senses CEO, said: “Joining forces with IHG means we can use a wealth of systems and operational excellence to grow our brand and reach new markets without losing our quirky personality and playful touch.”